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The Water Cooler
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The dollar continues to collapse
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<blockquote data-quote="Snattlerake" data-source="post: 4250170" data-attributes="member: 44288"><p><span style="font-size: 22px"><em>Wasn't the definition of a recession a loss of GDP in two successive quarters until it wasn't when OBiden took office?</em></span></p><p></p><p>[ATTACH=full]471096[/ATTACH]</p><p></p><p></p><p><a href="https://www.heritage.org/markets-and-finance/heritage-explains/bidens-recession" target="_blank">https://www.heritage.org/markets-and-finance/heritage-explains/bidens-recession</a></p><p></p><p></p><p></p><p>Recessions in the United States are officially declared by the National Bureau of Economic Research (NBER), but such determinations are made in retrospect. Its definition of a recession is based on a significant decline in economic activity over numerous months, taking into consideration such factors as employment, output, retail sales and household income.</p><p></p><p>"[The NBER] only make that judgment something like six months or a year after the numbers look like they're indicating the recession," said Lachman. "So, in short, it's too early to say that we're officially in a recession."</p><p></p><p>Yellen agreed, telling reporters, <strong>"They'll decide it sometime in the future."</strong></p><p></p><p><em><span style="font-size: 18px">Yeah, sometime in the future when a repub is in office.</span></em></p><p></p><p></p><p>In the meantime, economists outside the government and elected officials are free to spin the numbers to make their own declarations.</p><p></p><p>"The Biden White House can play word games and try and contort the English language as it sees fit in order to advance its radical and harmful agenda," said Steve Moore, an economist with FreedomWorks, a conservative advocacy group. "What this administration cannot change is the fact that American consumer confidence continues to fall under Biden's watch. Americans are overwhelmingly pessimistic about the state of the Biden economy, and no wordplay over the definition of 'recession' can change that."</p></blockquote><p></p>
[QUOTE="Snattlerake, post: 4250170, member: 44288"] [SIZE=6][I]Wasn't the definition of a recession a loss of GDP in two successive quarters until it wasn't when OBiden took office?[/I][/SIZE] [ATTACH type="full" alt="1713318261062.png"]471096[/ATTACH] [URL]https://www.heritage.org/markets-and-finance/heritage-explains/bidens-recession[/URL] Recessions in the United States are officially declared by the National Bureau of Economic Research (NBER), but such determinations are made in retrospect. Its definition of a recession is based on a significant decline in economic activity over numerous months, taking into consideration such factors as employment, output, retail sales and household income. "[The NBER] only make that judgment something like six months or a year after the numbers look like they're indicating the recession," said Lachman. "So, in short, it's too early to say that we're officially in a recession." Yellen agreed, telling reporters, [B]"They'll decide it sometime in the future."[/B] [I][SIZE=5]Yeah, sometime in the future when a repub is in office.[/SIZE][/I] In the meantime, economists outside the government and elected officials are free to spin the numbers to make their own declarations. "The Biden White House can play word games and try and contort the English language as it sees fit in order to advance its radical and harmful agenda," said Steve Moore, an economist with FreedomWorks, a conservative advocacy group. "What this administration cannot change is the fact that American consumer confidence continues to fall under Biden's watch. Americans are overwhelmingly pessimistic about the state of the Biden economy, and no wordplay over the definition of 'recession' can change that." [/QUOTE]
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